Interest in Liberia’s offshore reserves has been rising due to the recent Venus discovery in Sierra Leone during September 2009 which could confirm a new oil frontier.

Liberia has held three licensing rounds, starting in 2004 and most recently in 2009-2010. Some of the world’s major exploration companies along with junior players have acquired blocks in the country.

Offshore Liberia is a vastly unexplored covering more than 100,000 km² - to water depths of 4,000 m. Only 7 exploration wells drilled offshore from 1970 to 1985. Since 2004, 9,400 km of 2D seismic data (including gravity and magnetic data) has been carried out in the offshore area of Liberia, which has played a key part in attracting companies to the region and understanding the potentialities.